Suppose that $17,000 is invested in a savings account paying 6.2% interest per year. (a) Write...
When Angela was born, her grandparents deposited $5,000 into a college savings account paying 6% interest compounded continuously. Using the formula, A = Pe", what is the balance after 15 years? (Round your answer to two decimal places and enter in the form $XX,XXX.XX.)
Suppose that $18,961 is invested at an interest rate of 5.7% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is P(t)= (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers b) The balance after 1...
f $20,000 is invested in a savings account offering 3.5% per year, compounded continuously, how fast is the balance growing after 4 years? (Round your answer to the nearest cent.)$ 1 per yr
If 7000 dollars is invested in a bank account at an interest rate of 6 per cent per year,Find the amount in the bank after 13 years if interest is compounded annually:Find the amount in the bank after 13 years if interest is compounded quarterly:Find the amount in the bank after 13 years if interest is compounded monthly:Finally, find the amount in the bank after 13 years if interest is compounded continuously:
1) Please write clearly. Suppose that $12,170 is invested at an interest rate of 5.1% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is P(t) = 0. (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any...
Andrew and Emma Garfield invested $5,800 in a savings account paying 7% annual interest when their daughter, Angela, was born. They also deposited $1,600 on each of her birthdays until she was 17 (including her 17th birthday). Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much was in the savings account on her 17th birthday (after the last deposit)? (Round answer to 2 decimal places, e.g....
Jacob Lee invested $600 in a savings account paying 8% interest compounded twice a year. What will be his interest at the end of the year? Round to the nearest dollar. $48 $24 $49- Not the answer $25
Suppose that $11,399 is invested at an interest rate of 6 3% per year, compounded continuously a) Find the exponential function that describes the amount in the account after time t, in years b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is - 1 (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers in the equation.)...
Suppose that is invested in a savings account in which interest, k, is compounded continuously at 3% per year. The balance P(t) after time t, in years, is P(t) = Pekt a) What is the exponential growth function in terms of P and 0.03? P(t)=0
John invested $4000 into a savings account that pays 1.75% interest compounded quarterly. (15 points) Write an exponential function that models the value of John’s account after t years have passed. (10 points) How much money will John have in the account after 54 months? Round to 2 decimal places and include units in your answer. The half-life of cobalt-56 is 77.27 days. (15 points) If a sample contains 10 grams of cobalt-56, write an exponential function that models the...